ZIFX.com GBP/USD Holds Stable Just Above 1.61

GBP/USD Open 1.6138 High 1.6179 Low 1.6112 Close 1.6143

On Wednesday Pound/Dollar continued increasing with 65 pips. The Cable appreciated from 1.6112 to 1.6179 yesterday, in line with the positive money flow sentiment at around +19%, closing the day at 1.6143. Today the British Pound is trading quietly, with movements at the lower end of yesterday's range for the time being.

On the 1 hour range trading is forming, while on the 3 hour chart the upward channel is making renewal attempts. First resistance is yesterday's peak at 1.6179. Break above it should extend the bullish movement further towards 1.6300. The nearest support level is yesterday's bottom at 1.6112. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5990.

Today are UK Retail sales at 08:30 GMT.

Quotes are moving just above the close and crossing 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6179 1.6300 1.6433
Technical support levels: 1.6112 1.5990 1.5856

Already made +21 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6125 SL 1.6099 TP 1.6185, exit sent at 7:41 GMT+1.
Today so far +80, yesterday +136, as shown at our web site.

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